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Payout on policy
edited March 2013
one of my policies has a payout of 50% after 50% of policy term. How do I enter this ( i have already received this amount)?
Any pay-out from Insurance company can be shown as Withdrawal or Bonus (pay-out). However, both will have different effect on current value.
In the case of Withdrawal, your current value will be total of investment – total withdrawal (here 50% pay-out). For e.g. If you have paid premium as 100 and you have received back 50 and you show as withdrawal, your policy value will be 50.
If you decide to show this as Bonus (pay-out), your policy value will still remain as 100. You need to decide, what is the right method for valuing your policy value, based on the final entitlement for this policy.
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